Slide 1: Submission of earnings presentation to stock exchanges
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Slide 2: Earnings Presentation - VRL Financial Results FY 2020-21
EARNINGS PRESENTATION VRL Financial Results - FY 2020-21 June 12, 2021 1
Slide 3: Disclaimer
• Certain statements contained in this document may be statements of future expectations/forward looking statements that are based on management‗s current view and assumptions and involve known and unknown risks and uncertainties that could cause actual results/performance or events to differ materi
Slide 4: Transporting Beyond Boundaries
04 Company Overview 05 Key Differentiators 07 Vehicle Scrappage Policy 08 Financial Performance updates 11 Business Segment Overview 25 Key Points 26 Shareholding Pattern 28 Company Strategy Transporting 29 Branches and Distribution Network 31 Operational Capabilities Beyond 33 Promoters & Managemen
Slide 5: Company Overview
Listed on Exchanges Only “Owned Asset” organised player in Less than Truck load logistics business in India Pan-India surface logistics services provider with an established brand having one of the largest distribution networks in India Integrated hub-and-spoke operating model ensuring efficient con
Slide 6: Key Differentiators
We are LTL logistics service provider in the B2B space and its service dynamics are way different from that handed by typical B2C ecommerce operators, Express cargo players or LTL consignment by Railways, etc Lower operating costs and higher margins in GT business which contributes ~90% of Total
Slide 7: Scrappage Policy and its benefits to VRL
Scrappage Policy and its benefits to VRL Very low debt levels – insignificant finance costs Diversified customer base across sectors, - no dependency on specific sector or customers - Top 10 clients contribute ~3% of total GT revenue. Lowest Trade Receivables in the industry Highest Cash P
Slide 8: Vehicle Scrappage Policy
The vehicle scrappage policy is a government-initiated program to replace old vehicles from Indian roads. According to the new policy, commercial vehicles >15 years and passenger vehicles of >20 years will have to be mandatorily scrapped if they do not pass the fitness and emission tests from April
Slide 9: Financial Performance Update - Q4 & FY 2020-21
Financial Performance Update - Q4 & FY 2020-21 8
Slide 10: Notes to financial results
1) The Statement of Audited Financial Results ("Financial Results") for the quarter and year ended 31 March 2021, are prepared and published in accordance with Regulation 33 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, as amended. These financial results have been r
Slide 11: Consolidated financial results Q4 and FY21
Revenue at 60302.13 lakhs Revenue at 177578.73 lakhs EBITDA Margins at 16.34% EBITDA Margins at 14.66% EBIT Margins at 10.03% EBIT Margins at 5.66% PBT Margins at 8.51% PBT Margins at 3.59% PAT Margins at 6.16% PAT Margins at 2.54% Consolidated (INR Q4 FY21 Q3 FY21 Q4 FY20 FY21 FY20 (Audited) (Audit
Slide 12: Business Segments Overview
Business Segments Overview 11
Slide 13: Business Segment Breakup FY21
FY21 Revenue Business Segment Breakup Segment (in Lakhs) Bus Goods transport 159275.00 Operations Bus Operations 13033.56 7% Wind Wind Power 1757.44 power Transport of Passengers by Air 1182.37 1% Goods Others Transport 2330.36 90% TOTAL 177578.73 Transport of Passenger Goods Transport Bus Operation
Slide 14: Goods Transport Overview
Contributed ~90% of business in FY21 Less than Truckload (LTL), Full Truckload (FTL) & Courier services Strong B2B focus across a broad range of industries and a diversified customer base. Hub & Spoke Model with Pan- India geographical presence Differentiated services offering Wide range of customiz
Slide 15: Goods Transport Business breakup
Goods Transport Business breakup Focus on high margin LTL business • LTL involves transportation of consignments belonging to multiple customers in single vehicle. Less than • Our wider reach and adequate infrastructure helps in aggregating less than truckload truckload consignments from various cli
Slide 16: Goods Transport results
(INR in lakhs) Goods Transport Quarter ended Year ended 31.03.2021 31.12.2020 31.03.2020 31.03.2021 31.03.2020 Particulars (Audited) (Unaudited) (Audited) (Audited) (Audited) (refer note 2) (refer note 2) 53577.39 50100.82 41650.59 159275.00 172392.91 Revenue 9697.03 9754.42 4777.65 24417.02 22929.7
Slide 17: Goods Transport Q4 and H2 performance
Total Revenue EBITDA EBITDA Margin Rs 53577.39 lakhs Rs 9697.03 lakhs 18.10% 28.64% 102.9% 6.6% YoY YoY YoY Delivered a Phenomenal Quarterly EBITDA of Rs.9697.03 lakhs in Q4FY21, more than twice as compared with Q4FY20, with margins of 18.1% 19% Revenue 103678 79% EBITDA growth growth With the pande
Slide 18: Goods transport revenue and EBITDA trend
Goods transport Revenue (INR Lakhs) & Growth (%) 5.0% 6.4% 11.2% 2.3% (7.6%) 168525 172393 151532 159275 142458 FY 17 FY 18 FY 19 FY 20 FY 21 GT REV Growth(%) Goods transport EBITDA (INR Lakhs) & EBITDA margin (%) 13.3% 15.33% 12.4% 12.3% 12.2% 24417 22930 20521 17636 18645 FY 17 FY 18 FY 19 FY 20 F
Slide 19: Bus Operations overview
Contributes ~7%* of business * Lower contribution owing to the pandemic Total Fleet Size 291 buses 291 buses Debt free & Zero debt Segment Services in the state of Karnataka Andhra Pradesh, Telengana, Goa, Gujarat, Maharashtra Booking of tickets is facilitated by a wide network of agents, leading we
Slide 20: Bus Operations results
(INR in lakhs) Bus Operations Quarter ended Year ended 31.03.2021 31.12.2020 31.03.2020 31.03.2021 31.03.2020 (Audited) (Unaudited) (Audited) (Audited) (Audited) Particulars (refer note 2) (refer note 2) 5614.43 5211.53 7058.24 13033.56 34371.06 Revenue (443.20) 472.88 649.68 (703.15) 4863.98 EBITDA
Slide 21: Revenue and EBITDA trends
Revenue from Operations (INR Lakhs) & Growth rate (%) 4.68% 6.61% 9.74% 0.4% (17)% 210954 211854 180309 192232 176292 Revenue from Operations Growth (%) FY17 FY18 FY19 FY20 FY21 EBITDA (INR Lakhs) & EBITDA margin (%) 12.6% 12.8% 11.9% 14.50% 14.66% 30859 24846 25192 26035 22748 Ebitda Ebitda Margin
Slide 22: Net Debt to Equity, Gearing and Return metrics
Net Debt to Equity Gearing Ratio 17396 6278 12880 17706 10144 24.32% 22.30% 16.62% 14.52% 9.57% 0.3 0.2 0.3 0.2 0.1 FY17 FY18 FY19 FY20 FY21 FY17 FY18 FY19 FY20 FY21 Net debt/Equity(x) Net debt position (Lakhs) Note : Debt for the above purpose includes non-current borrowings, current Return metrics
Slide 23: Receivables and Debt
Receivables Debt • Trade receivables at 13 days of total revenue Net debt reduced from Rs17705.83 lakhs as on in FY21 Mar 31, 2020 to Rs 10144.31 lakhs as on Mar 31, 2021 • High-quality and diversified customer base • Efficient collection process • The ICRA Debt Rating is maintained A+ (stable). • C
Slide 24: Cash flow and Cash EPS
Net Cash generated from operations (Lakhs) 27111 25728 19798 20548 19219 FY17 FY18 FY19 FY20 FY21 Cash Flow increases 5.4 % YoY from 25728 lakhs to 27111 lakhs CASH EPS Net Cash generated from operations / Number of shares 28.48 30.69 21.70 22.74 21.27 FY17 FY18 FY19 FY20 FY21 Healthy cash earni
Slide 25: Vehicles and turnover by year
Total Number of Total Number of Year Vehicles Total Turnover Year Vehicles Total Turnover INR in Lakhs INR in Lakhs 1983-84 8 28 2002-03 1202 16826 1984-85 11 40 2003-04 1255 20419 1985-86 15 68 2004-05 1683 27739 1986-87 24 140 2005-06 1891 35695 1987-88 45 199 2006-07 2426 44295 1988-89 81 290 200
Slide 26: Key Points
Procurement of Bio-fuel @ 23.3% of total quantity in FY21 (31.03% in Q1FY21, 53.18% in Q2FY21, 17.34% in Q3FY21, 4.91% in Q4FY21). Increase in Tonnage by 5.99% QoQ, and 15.34% YoY Sixteen new branches added in Q4FY21. Increase in Goods Transport Kms of owned vehicles by 7.2% QoQ and 16.6% YoY.
Slide 27: Shareholding Pattern
Shareholding Pattern 0.02% 1.22% Promoter 3.05% 7.46% Mutual Funds 18.66% Foreign Portfolio Investors General Public 69.59% NBFC (RBI Registered) Others 26
Slide 28: Major shareholders by investor category
% to Sl No Investor Category Equity 1 NIPPON LIFE INDIA TRUSTEE LTD-A/C NIPPON INDIA MULTI CAP FUND MUT 7.26% 2 IDFC STERLING VALUE FUND MUT 5.03% 3 ICICI PRUDENTIAL MULTI-ASSET FUND MUT 4.82% 4 UTI TRANSPORTATION AND LOGISTICS FUND MUT 0.83% 5 CANARA ROBECO MUTUAL FUND A/C CANARA ROBECO SMALL CAP F
Slide 29: Company Strategy
To focus on high margin and growth oriented Goods Transportation segment Procurement of e-vehicles in a phased manner To capitalise on the scrappage policy. To garner higher freight volumes and maintain business operations with optimal capacity utilization and focus on higher margin parcel deliv
Slide 30: Branches and Distribution Network
Consolidation Aggregation & Segregation Last Mile Delivery Hub-and-Spoke model to aggregate small parcels and maximize Fleet utilization of vehicles Presence in 22 States, 4 Union Territories Operations through 685 Branches, 145 Agencies and 45 Transhipment hubs Pan India Last Mile Market Establishe
Slide 31: Own Vehicle Numbers
Own Vehicle Numbers 0.5 tons to Car Available Total 2.5 tons to 7.5 tons and Tanker Cranes TOTAL As of 2.5 tons Carrier Capacity Vehicles BUSES 7.5 tons above (2) (3) FLEET (a) (1) (tons) Owned 31-Mar-17 117 969 2723 102 52099 17 13 3941 419 4360 31-Mar-18 150 960 2765 102 52954 17 13 4007 396 4403
Slide 32: Operational Capabilities
Fuel procurement Dedicated in-house strategies to reduce maintenance & vehicle overall expense body design facilities • Procurement of fuel directly • Preventive in-house from refineries and private maintenance program designed petroleum companies, to increase the life of vehicles • Usage of Bio fue
Slide 33: Technology capabilities
ERP system: In-house developed ERP system that ensuring real time operations and movement of consignments Operations Monitoring System : IT systems in place to monitor vehicle movement, fuel consumption per km for each vehicle , distance travelled , driver advances, Advance Consignment Management sy
Slide 34: Promoters
Dr. Vijay Sankeshwar Mr. Anand Sankeshwar Chairman and Managing Director Managing Director Honored with the Padma Shri Award (the fourth Actively involved in day-to-day business operations. highest civilian award) on the eve of Republic Day, 2020 for contribution to Trade and Industry Recipient
Slide 35: Senior Management
Mr. K N Umesh Mr. Ramanand Bhat Executive Director Executive Director Senior Management team has been associated Mr. Sunil Nalavadi with the Company for an Mr. Aniruddha Phadnavis Chief Financial Officer average of over 20 years Company Secretary & Compliance Officer Mr. Sanganagouda Patil Mr. Ragha
Slide 36: Company milestones
1976 Dr. Vijay Sankeshwar started goods transportation business through a proprietary firm 1994 Became a deemed public limited company 1996 Commencement of Bus Operations 1997 Status of the company changed from deemed Public Limited Company to Public Limited Company 2003 Entered into Limca Book of R
Slide 37: Awards & Recognition
Prawaas 2017- India International Bus & Car Travel award for ― Best in Passenger Safety Measures‖ in large size vehicle category Best transporter -2016 award from Frost & Sullivan Excellence in operational efficiency award -2016 from Express supply chain logistics Apollo CV Magazine Award-2016 for ‗
Slide 38: Thanking You
THANKING YOU For further discussions/queries Please contact : Sunil Nalavadi Chief Financial Officer +91 93425 59298 cfo@vrllogistics.com